. >> so is sequestration the new law of the land or is there still some maneuver room? do you think things could change? and if so, how? >> i think things can change. the destruction caused by sequestration will gradually get worse. ooup you'll see a gradual rac t rachetlirache ratcheting up of the disruption. that's inevitable when you try to cut $110 billion out of the federal budget in a very short period of time. the nonpartisan congressional budget office has said that we will lose 750,000 american jobs as a result of this. in other words, there will be that many fewer jobs in this country. when you've got a slow economy, that is a very big deal and that doesn't happen overnight, but it builds over time. so i do hope our republican colleagues come to their senses and are willing to replace these across the board and very deep and fast cuts with a more gradual effort to reduce the deficit in a balanced way. >> that cbo report notwithstanding, congressman, as you know, there are some happy republicans. they think, frankly, the president overplayed his hand when he la